Squeeze Momentum Indicator [LazyBear] vX by DGT

24 giu 2020

Modified version of Squeeze Momentum Indicator [LazyBear] visualizing on Price Chart

author: LazyBear, modified by KıvançÖZBİLGİÇ

1 lug 2020

Note di rilascio

small update: Keltner Channel calculations replaced by kc(series, length, mult, useTrueRange) build-in function

26 ago 2020

Note di rilascio

enhancement

The Squeeze Indicator measures the relationship between Bollinger Bands and Keltner's Channels to help identify consolidations and signal when prices are likely to break out (whether up or down).
The Squeeze Indicator finds sections of the Bollinger Bands which fall inside the Keltner's Channels and in this case the market is said to be in a squeeze (indicator turns off, displayed with grey diamond shapes in this study)
When the volatility increases, so does the distance between the bands, conversely, when the volatility declines, the distance also decreases and in such cases the squeeze is said to be released (indicator turns on, displayed with triangle up or triangle down shapes)

To produce Buy/Sell signals, the Squeeze indicator is plotted along with Momentum Oscillator
When the indicator is on and the Momentum Oscillator Histogram is green, it is considered a Buy signal (this signal is supposed to be correct until two green bars in a row).
When the indicator is on and the Momentum Oscillator Histogram is red, it is considered a Sell signal (this signal is supposed to be correct until two red bars in a row).
When the market finishes a move, the indicator turns off (grey) and no trade is recommended

6 giu 2021

Note di rilascio

Update

- Multi TimeFrame ability added

- The Squeeze Indicator measures the relationship between Bollinger Bands and Keltner's Channels, hence made them optionally visable

- Removed Label

13 set 2022

Note di rilascio

Update
* Squeeze Release Alert Addition
* Pine Script v5 Update